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Hank Murphy Was Selected to Develop an Advanced Personal Communication

question 21

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Hank Murphy was selected to develop an advanced personal communication device with his own self-managed work team. Hank was assured that resource allocation and timelines were flexible for this project provided the work was a cut above that provided by the rest of the employees. As a part of the project guidelines, Hank included the demand that the device being developed by the team should also be marketed exclusively by them without resorting to franchising or cobranding. This was to ensure that customers recognized the product as reflecting the values of their company. Work on this project began with a lot of vigor and once the device was developed, Hank's team implemented their marketing strategy. However, even three months after the product's release, visibility remained low in the market and many reviewers did not consider the device to be much of an innovation. Which of the following statements, if true, would indicate a lack of reflexivity in Hank's self-managed work team?


Definitions:

Large CDs

Certificates of Deposit (CDs) that are categorized by their large denomination, typically used by institutional investors.

Federal Deposit Insurance

Federal deposit insurance is a protection scheme that guarantees bank deposits, protecting depositors against bank failures by covering the loss of deposits up to a specified limit.

Main Purpose

The primary aim or objective intended to be achieved by a plan, action, or project.

Opportunity Cost

The cost of forgoing the next best alternative when making a decision; it represents the benefits that could have been received but were given up to take another course of action.

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